Mortgage Rates Update
The home foreclosure front received some good news this
morning as the sector digs out of a big hole left by the Great Recession.
CoreLogic reported that completed foreclosures fell by 30% from October 2012
(68,000) to October 2013 (48,000). In addition, 791,000 residential properties
returned to positive equity in the third quarter of this year, but nearly 6.4
million residential properties still have negative equity.
Inflation at the consumer level was tame in November, led lower by declining prices at the gas pumps and natural gas, which more than offset gains in electricity and fuel oil. The Consumer Price Index (CPI) was unchanged last month, below the 0.1% expected. The year-over-year headline CPI came in at 1.2% in November, up from the October annual reading of 1.0%.
Over on the housing front, the National Association of Home Builders reported today that its Housing Market Index rose by 4 points to 58, which reflected improvement in current sales conditions, sales expectations and traffic of prospective buyers. The increase was due in part to pent-up demand caused by the October government shutdown. The index is up 11 points since December 2012 and has been above 50 for the past seven months. Any number over 50 indicates that more builders view conditions as good than poor.
Inflation at the consumer level was tame in November, led lower by declining prices at the gas pumps and natural gas, which more than offset gains in electricity and fuel oil. The Consumer Price Index (CPI) was unchanged last month, below the 0.1% expected. The year-over-year headline CPI came in at 1.2% in November, up from the October annual reading of 1.0%.
Over on the housing front, the National Association of Home Builders reported today that its Housing Market Index rose by 4 points to 58, which reflected improvement in current sales conditions, sales expectations and traffic of prospective buyers. The increase was due in part to pent-up demand caused by the October government shutdown. The index is up 11 points since December 2012 and has been above 50 for the past seven months. Any number over 50 indicates that more builders view conditions as good than poor.
Comments
Post a Comment